Farmington Friends of the Library Inc

Analysis

Farmington Friends of the Library Inc is a registered charity in United States, based in Farmingtn HLS, MI. It received its IRS tax-exemption ruling in April 1959, 67 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Farmington Friends of the Library Inc reported income of $136k and spending of $145k, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $111k to $136k (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2022, when income rose by 81%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Farmington Friends of the Library Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 44th percentile within MI. Charities of a similar size with the same main cause include Seat 4 Christ ($136k), Center for Arts - Design & Social Research ($136k) and Mill Creek High Cheerleading Inc ($136k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 19% of the total. At year end it held assets of $575k against liabilities of $82k, net assets of $494k.